光华讲坛——社会名流与企业家论坛第6717期

主题：Collaborative Innovation and R&D Disclosures: Evidence from Co-patents协同创新与研发披露：来自共同专利的证据

主讲人：英国华威大学商学院 项忠楠助理教授

主持人：会计学院 童璐副教授

时间：4月2日10:00-11:00

地点：柳林校区诚正楼650会议室

主办单位：会计学院 科研处

主讲人简介：

Zhongnan Xiang is an Assistant Professor in the Accounting Group at Warwick Business School. Her primary research interests include textual disclosures and firm innovation.

项忠楠是华威商学院会计系的助理教授。她的主要研究兴趣包括文本披露和企业创新。她在美国天普大学获得博士学位。

内容提要：

This lecture will share that examines how firms’ R&D disclosures are associated with collaborative innovation, measured by co-patenting intensity. Compared to solo patents, co-patents are more uncertain and face a greater risk of proprietary information leakage. We find that firms with more co-patents tend to disclose less R&D information in 10-K filings, particularly when they face greater competition. The association is stronger when firms’ IP rights are weakly protected. These findings suggest that firms tend to keep R&D disclosures low when they share essential knowledge and when competitors’ value appropriation is more likely. We also find that co-patenting firms disclose more R&D information when they take advantage of their partners’ resources, capabilities, or brands. Also, firms’ incentives for R&D disclosures are weakened when firms are expanding collaborative networks.

Altogether, this lecture will underscores collaboration as a key influence on corporate disclosures.

本次讲座将深入探讨企业研发信息披露与协同创新之间的动态关系。研究发现，以共同专利强度衡量的协同创新活动会显著影响企业的研发信息披露策略。与独立专利相比，共同专利具有更高的不确定性和专有信息泄露风险，这使得拥有更多共同专利的企业在10-K报告中倾向于披露更少的研发信息，特别是在面临激烈市场竞争或知识产权保护较弱的情况下。研究进一步揭示，当企业需要共享核心知识且面临竞争对手价值攫取的风险时，它们会降低研发信息披露水平；然而，当企业能够借助合作伙伴的资源、能力或品牌优势时，反而会增加研发信息披露。此外，随着企业协同创新网络的扩展，其进行研发信息披露的动机也会相应减弱。这些发现共同表明，协同合作在企业信息披露决策中扮演着关键角色。

本次讲座将帮助听众理解企业在协同创新环境下如何权衡信息披露的利弊，从而为创新管理和信息披露实践提供有价值的启示。